The Egyptian Exchange (EGX) continues its efforts to stimulate institutional and foreign investment; accordingly, it is working on giving the foreign investors access to the information at the same time it is disseminated in Arabic. This is to ensure fair treatment in accordance with international financial markets norms. Hence, EGX communicated with all listed companies with annual revenues of EGP 2 billion and above to ensure their commitment to simultaneous bilingual disclosure as per Article 27 of the rules of listing and delisting securities issued by The Financial Regulatory Authority’s Board of Directors Decision No. 149 of 2022.
Approximately 85 % of the targeted companies has made simultaneous bilingual disclosures of their financial statements and other disclosures.
EGX emphasizes the significance of coordination between listed companies and their auditors to prepare their financial statements in both Arabic and English and disseminate them simultaneously. EGX is currently helping all listed companies that did not comply with the previously mentioned Article 27 to make simultaneous bilingual disclosure, as this will increase the transparency and disclosure quality, reflecting positively on the capital market.
